Bp Share Discussion Threads

[mreasygoing] 03/4/2020 09:48

The Bull trap was sprung yesterday. Exercise extreme caution.

[florenceorbis] 03/4/2020 09:03

BP. JP Morgan Cazenove Overweight 475.00 - Reiterates

[amd7000] 03/4/2020 09:00

While a second wave of covid-19 is likely it shouldn't be as bad as this current pandemic due to awareness and the immunity from previous sufferers. I can see this situation clearing up sooner rather than later.

[younasm] 02/4/2020 20:38

I sold a few at 362; I don't see much reason to be too bullish. I am still long.I think 250-400p range is possible - everyone gets a chance to trade as that is the reason prices move - to pull in traders waiting for various targets. Some traders are forced to act to cover leveraged positions/margin calls.Good luck.

[mw16] 02/4/2020 20:33

explain the fundamentals?

u speak with what seems little to no experience. This is a classic trap. the stock market is designed to suck wealth from the idiots to the rich

[mw16] 02/4/2020 20:32

explain the fundamentals?

u speak with what seems little to no experience. This is a classic trap. the stock market is designed to suck wealth from the idiots to the rich

[ny boy] 02/4/2020 20:16

Hit a fresh high 370p, bodes well, plenty of keen buyers on each dip.

Oil news today should be supportive going forward, 400p + on the way this quarter.GLA

[waldron] 02/4/2020 17:37

Brent Crude Oil NYMEX 30.39 +22.84%
Gasoline NYMEX 0.68 +25.16%
Natural Gas NYMEX 1.69 -1.34%
WTI 24.955 USD +17.32%

FTSE 100
5,480.22 +0.47%
Dow Jones
21,267.19 +1.55%
CAC 40
4,220.96 +0.33%
SBF 120
3,317.69 +0.44%
Euro STOXX 50
2,688.49 +0.78%
DAX
9,570.82 +0.27%
Ftse Mib
16,740.07 +1.18%


Eni
9.838 +6.93%

Total
36.28 +3.07%



Engie
8.894 -0.91%


Bp
353.35 +5.89%

Vodafone
110.3 +0.64%

Royal Dutch Shell A
1,541.6 +8.47%



Royal Dutch Shell B
1,479.6 +9.41%

[optomistic] 02/4/2020 16:19

Brent been up to $32 now at $27.3 some change from earlier in the day!

[borg45] 02/4/2020 15:44

Glad I ignored all the £2 merchants

[grupo] 02/4/2020 10:51

rvsy2
2 Apr '20 - 09:39 - 3584 of 3585
0 0 0
grupo - I think their timescale is too far out in the future for me.

lol

time will tell whether the timeframe is short , medium or long

cheers

[rvsy2] 02/4/2020 09:39

grupo - I think their timescale is too far out in the future for me.

[grupo] 02/4/2020 09:27

rvsy2
2 Apr '20 - 09:16 - 3582 of 3582

One of the weaknesses of these recommendations as retail punters lays with the timeframe and detaied logic

The feel good factor could be 3months,6months or even a year down or up the road

however once sentiment changes either way,there will be substantial swings as might well happen when results are known

good luck, whatever happens

use as a pinch of salt on top of all the other information available

i find supports and resistences helpful



AND OTHER GUESSERS SUCH AS STOXLINE


Targets Six months: 572.26 One year: 668.40

Support1: 190.14

Resistance1: 489.95

But alas much is suspect

[rvsy2] 02/4/2020 09:16

Perhaps someone can explain the logic behind the Goldman Sachs Buy recommendations .

I understand oil storage facilities including super carriers are full to the brim,
demand for oil products is likely to be severely impacted for months how are the oil majors going to make the returns to justify the price forecast , particularly BP.

[ny boy] 02/4/2020 08:51

It’s been a gift from the Gods since early 200p’s, heading back above 400p this quarter, just one to lock away copious quantities of shares and enjoy an attractive divi, even 5% is ok with me.

[florenceorbis] 02/4/2020 08:50

RDSB Goldman Sachs Buy LOL DOWN SUCH MUCH FROM 2,050.00 to 2,000.00


BP. Goldman Sachs Buy 550.00 - Reiterates

[waldron] 02/4/2020 08:00

BP will cut 2020 capital spending by 25% amid ‘brutal’ market conditions

Oil & Gas

By Andrew Fawthrop 01 Apr 2020

BP has become the latest oil major to announce deep cuts to capital spending plans, as coronavirus and the price crash create challenging market conditions
BP Flickr Mike Mozart

BP will reduce capital spending as it grapples with coronavirus and the price crash (Credit: Flickr/Mike Mozart)

In a widely-anticipated move, UK oil major BP has announced a 25% reduction to its 2020 capital spending, as it seeks to strengthen its financial position amid the turmoil currently engulfing oil markets.

The $12bn cutback to investment plans will result in a 70,000 barrels per day (bpd) lowering of its upstream production attributable to its BPX Energy division, with full-year underlying upstream output levels expected to be lower than those of 2019.

The oil firm becomes the latest in the industry to announce a series of capital spending cuts as businesses seek ways to protect their balance sheets from the worst effects of the coronavirus health crisis that has decimated global fuel demand and the price war launched by Saudi Arabia that has sent commodity prices into freefall.


BP likely to take $1bn impairment charge as ‘most brutal environment’ in decades forces capital spending cuts

Plans to divest $15bn in assets by the middle of next year remain “on track”, although BP says the phasing of the receipt of $10bn in divestment proceeds by the end of 2020 may be revised.

A first-quarter update will be provided at the end of April, but the oil producer warned it would be likely to include a $1bn impairment charge for the period.

BP CEO Bernard Looney said: “This may be the most brutal environment for oil and gas businesses in decades, but I am confident that we will come through it – we know what to do and we have done so before.

“We are now acting quickly and decisively to further strengthen our financial frame in response to the currently volatile and extremely challenging market conditions. We will continue to review these actions and any further actions that may be appropriate, in response to changes in prevailing market conditions.

“We now expect 2020 organic capital spend to be around $12bn, around 25% below our prior full-year guidance.

“In upstream, this includes a reduction of around $1bn in spend on short-cycle onshore activity, including in BPX Energy, as well as deferral of certain exploration and appraisal activity and optimisation of our major project spend.

“In downstream, we expect a reduction in spend of around $1bn, which includes reduced spending across our fuels marketing, refining and petrochemicals businesses.”


No staff reductions to be made for three months

The new company boss, who only took full control of the oil giant in February, reassured employees that no staff reductions would be made during the next three months, although measures were being taken to reduce “non-essential activity and manning levels” where possible to limit the spread of the virus.

This includes removing thousands of construction staff from the Tangguh expansion project in Indonesia.

Looney also said BP would use its “reach, resources and skills” to contribute to the coronavirus relief effort, including a $2m donation to the Covid-19 Solidarity Response Fund, provision of personal protective equipment to health services, as well as allowing free refuelling for ambulances and medical helicopters.


Net zero plans remain intact despite market crisis

He reaffirmed a commitment to the net zero 2050 strategy on which he announced his arrival as the new chief executive, saying “I am confident we will weather this storm and emerge better able to deliver our ambition”.

With questions having been raised about whether the oil crisis would scupper Big Oil’s plans to accelerate the low-carbon energy transition, the commitment will be welcome news to those who had voiced concerns.

Greenpeace UK campaigner Fiona Nicholls said: “As fossil fuel giants grapple with the threats to their balance sheets, they must not ignore the ongoing threat of the climate emergency.

“When the immediate crisis is over and investment resumes, it must be channelled towards clean, renewable energy and a resilient, low-carbon economy.”

[sawadee3] 02/4/2020 07:45

After being walloped hard, like everyone else, i've been buying BP shares on the cheap.

Holding 80K shares at an average price of £2.48. Hopefully yielding around 15%

It's been my saviour :-)

Oil flying, we're looking at another great day chaps.

GL all :-)

[ny boy] 02/4/2020 07:34

Oil prices jump off lows, back to 400p soon imo

[eddie_yates] 01/4/2020 18:51

Fingers crossed!

[gswredland] 01/4/2020 18:21

I’m bemused at the share price.
Thought this would track below 300 again.
I suppose it may do tho!